Sepracor to restate some results in light of options review

MichaelBaron

NEW YORK (MarketWatch) -- Sepracor Inc.
sepr
said Thursday it won't be able to file its Form 10-Q for the quarter ended June 30 until it has "substantially completed" the previously disclosed review of its stock option grants and stock option practices. The Marlborough, Mass., drug developer also said it now expects to restate certain past financial results going back to fiscal 2003, based on the results of the review so far. The company noted that its previously reported statements and earnings releases should no longer be relied upon. The stock closed Wednesday at $46.97, down 1.1%.

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